Smallcap World Correlations

CSPEX Fund

USD 71.34 0.44 0.62%

The current 90-days correlation between Smallcap World and Us Government Securities is 0.06 (i.e., Significant diversification). The correlation of Smallcap World is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak. If the correlation is 0, the equities are not correlated; they are entirely random.

Smallcap World Correlation With Market

Almost no diversification

The correlation between Smallcap World Fund and DJI is 0.92 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Smallcap World Fund and DJI in the same portfolio, assuming nothing else is changed.

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Smallcap World Fund. Also, note that the market value of any mutual fund could be closely tied with the direction of predictive economic indicators such as signals in real.

Moving together with Smallcap Mutual Fund

0.97	RNEBX	New World Fund	Pair Corr
0.96	RNCCX	American Funds Income	Pair Corr
0.86	FPPPX	American Funds Prese	Pair Corr
0.94	AMEFX	Income Fund	Pair Corr
0.96	RNGGX	New Economy Fund	Pair Corr
0.96	RNGFX	New Economy Fund	Pair Corr
0.96	RNGHX	New Economy Fund	Pair Corr
0.95	RNGBX	New Economy Fund	Pair Corr
0.95	RNGAX	New Economy Fund	Pair Corr
0.96	RNGEX	New Economy Fund	Pair Corr
0.96	RNGCX	New Economy Fund	Pair Corr
0.86	TEAFX	Tax Exempt Bond	Pair Corr
0.96	FPTPX	American Funds Conse	Pair Corr
0.75	TEFEX	Tax Exempt Fund	Pair Corr
0.94	RNNEX	New Economy Fund	Pair Corr
0.97	CDJAX	American Funds College	Pair Corr
0.97	RNPBX	New Perspective	Pair Corr
0.97	RNPAX	New Perspective	Pair Corr
0.97	RNPHX	New Perspective	Pair Corr
0.97	RNPGX	New Perspective	Pair Corr
0.97	RNPCX	New Perspective	Pair Corr
0.97	RNPFX	New Perspective	Pair Corr
0.97	RNPEX	New Perspective	Pair Corr
0.95	AMRFX	American Mutual	Pair Corr
0.96	RNRPX	American Funds Retirement	Pair Corr
0.97	RNWFX	New World Fund	Pair Corr
0.97	RNWEX	New World Fund	Pair Corr
0.97	RNWHX	New World Fund	Pair Corr
0.97	RNWGX	New World Fund	Pair Corr
0.97	RNWBX	New World Fund	Pair Corr
0.97	RNWAX	New World Fund	Pair Corr
0.97	RNWCX	New World Fund	Pair Corr
0.87	CDWEX	American Funds Developing	Pair Corr
0.87	CDWFX	American Funds Developing	Pair Corr
0.87	CDWCX	American Funds Developing	Pair Corr
0.87	CDWAX	American Funds Developing	Pair Corr
0.78	ANBGX	American Funds Strategic	Pair Corr
0.77	ANBFX	American Funds Strategic	Pair Corr
0.84	CEAMX	Short Term Bond	Pair Corr
0.83	TFEBX	Tax Exempt Bond	Pair Corr

Related Correlations Analysis

	RGVCX	GSDSX	TGRXX	FITSX	PYUSX	RGVAX
RGVCX		0.67	0.0	0.8	0.72	0.97	RGVCX
GSDSX	0.67		0.0	0.79	0.98	0.68	GSDSX
TGRXX	0.0	0.0		0.0	0.0	0.0	TGRXX
FITSX	0.8	0.79	0.0		0.83	0.76	FITSX
PYUSX	0.72	0.98	0.0	0.83		0.72	PYUSX
RGVAX	0.97	0.68	0.0	0.76	0.72		RGVAX
	RGVCX	GSDSX	TGRXX	FITSX	PYUSX	RGVAX

Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

PYUSX	+ 0.98	GSDSX
RGVAX	+ 0.97	RGVCX
PYUSX	+ 0.83	FITSX
FITSX	+ 0.8	RGVCX
FITSX	+ 0.79	GSDSX
RGVAX	+ 0.76	FITSX

High negative correlations

RGVAX	- 0.0	TGRXX
PYUSX	- 0.0	TGRXX
FITSX	- 0.0	TGRXX
TGRXX	- 0.0	GSDSX
TGRXX	- 0.0	RGVCX

Risk-Adjusted Indicators

There is a big difference between Smallcap Mutual Fund performing well and Smallcap World Mutual Fund doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Smallcap World's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
RGVCX	0.13	(0.01)	0.00	(0.20)	0.00	0.00	0.25	(0.25)	0.66
GSDSX	0.06	0.00	(0.22)	0.35	0.00	(0.14)	0.11	(0.11)	0.43
TGRXX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
FITSX	0.16	(0.01)	(0.16)	(0.04)	0.18	(0.21)	0.33	(0.33)	0.98
PYUSX	0.08	0.00	(0.27)	0.68	0.00	(0.15)	0.21	(0.11)	0.53
RGVAX	0.12	(0.01)	0.00	(0.30)	0.00	0.00	0.25	(0.25)	0.58

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